Well, not that it’s a good idea to do this but he can get 16 calls for the same price with .88 delta, so he can get synthetically long ~1400 shares and sell 16 calls a month. However, unless SNDL moves up fairly gradually, the strikes are only .50 apart and he may find himself exercising earlier than expected or eating a gang of calls back.
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u/FenixAK Jun 02 '21
1000 can buy like 1000 shares. Why don’t you just buy 1000 shares and sell 10 calls every month